B. LIQUIDITY CONSIDERATIONS	9 Months Ended
Sep. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
B. LIQUIDITY CONSIDERATIONS	The Company has borrowings which require, among other things, compliance with certain financial ratios. Due to operating losses the Company has sustained during recent quarters as a result of the prolonged weak commodity price environment, the Company is anticipating that it will not be in compliance with the trailing four quarter funded debt to EBITDA financial ratio covenant under its senior credit facility at September 30, 2015. A breach of any of the terms and conditions of the credit agreement or a breach of the financial covenants under the Company’s senior credit facility could result in acceleration of the Company’s indebtedness, in which case the debt would become immediately due and payable. As a result, the Company has classified its bank debt as a current liability in its financial statements. The Company is in discussions with its lenders who are still in the process of their borrowing base review. The Company is working on several strategic alternatives to remedy the Company's debt covenant compliance issue and provide working capital to develop the Company's existing assets. These alternatives include, but are not limited to, refinancing the Company's debt, a sale of equity, and possible joint ventures or mergers, but the Company cannot say with certainty that one or more of these alternatives will be realized.

B. LIQUIDITY CONSIDERATIONS

9 Months Ended

Sep. 30, 2015

Organization, Consolidation and Presentation of Financial Statements [Abstract]

The Company has borrowings which require, among other things, compliance with certain financial ratios. Due to operating losses the Company has sustained during recent quarters as a result of the prolonged weak commodity price environment, the Company is anticipating that it will not be in compliance with the trailing four quarter funded debt to EBITDA financial ratio covenant under its senior credit facility at September 30, 2015.

A breach of any of the terms and conditions of the credit agreement or a breach of the financial covenants under the Company’s senior credit facility could result in acceleration of the Company’s indebtedness, in which case the debt would become immediately due and payable. As a result, the Company has classified its bank debt as a current liability in its financial statements. The Company is in discussions with its lenders who are still in the process of their borrowing base review.

The Company is working on several strategic alternatives to remedy the Company's debt covenant compliance issue and provide working capital to develop the Company's existing assets. These alternatives include, but are not limited to, refinancing the Company's debt, a sale of equity, and possible joint ventures or mergers, but the Company cannot say with certainty that one or more of these alternatives will be realized.